The crypto exchange Bitfinex has officially added margin trading to Tether Gold (XAU₮). Beginning January 30, the exchange will support margin trading for XAU₮ with trading pairs for USD, Tether and Bitcoin. These trading pairs can be traded with initial equity of 20% and a maximum leverage of 5x.
We have launched Margin Trading for @TetherGold!
XAU₮ pairs can now be traded with an initial equity of 20% and a maximum leverage of 5x.Furthermore, the maximum leverage for BTC/USD has been increased from 3.3x to 5x.
Find full details on https://t.co/gh4NAPBz4G pic.twitter.com/Fclqc0Ac28
— Bitfinex (@bitfinex) January 30, 2020
Just a week ago, Tether Ltd., the company behind USDT’s largest stablecoin, released XAU₮ on January 23, with each token representing ownership of an ounce of good physical gold held in a Swiss vault. Stablecoins are available as ERC-20 tokens on the Ethereum blockchain and TRC20 tokens on the TRON blockchain.
Bitfinex listed the new stablecoin on January 24. Hodlers XAU ₮ get the combined benefits of both physical and digital assets. They will be able to enjoy ownership of gold while avoiding restrictions related to physical gold,
such as high storage costs and limited access.
Read more:
- Ransomware: UK Court Freezes 860,000 In Bitcoin On Bitfinex
- The Lawsuit Alleging Tether And Bitfinex Manipulated Bitcoin Market Be Refiled And Another Similar Lawsuit